Gold, silver sharply down on technical selling

From kitco.com

Gold and silver prices are trading sharply near midday Tuesday, pressured in part by a firmer U.S. dollar index and an uptick in U.S. Treasury yields today. Featured is a deteriorating near-term technical posture for both precious metals that is inviting the chart-based, short-term speculators to the short sides of the futures markets. June gold was last down $107.30 at $4,586.00. May silver prices were down $2.245 at $72.78. Monetary policy makers in the U.S. and across the Group of Seven will probably keep their interest rates steady this week. The Federal Reserve’s Open Market Committee (FOMC) meeting began this ... (full story)